The new director-general of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has vowed to reform the organisation for seamless global trade.
In her acceptance speech shortly after her selection as the first woman and first African to occupy the leadership position of the organisation, she also pledged to serve as mediator between the United States (US) and China.
Okonjo-Iweala noted that her key priority would be to work with members to quickly address the economic and health consequences brought about by the COVID-19 pandemic.
She said, “I am honoured to have been selected by WTO members as WTO director-general. A strong WTO is vital if we are to recover fully and rapidly from the devastation wrought by the COVID-19 pandemic. I look forward to working with members to shape and implement the policy responses we need to get the global economy going again.
“Our organisation faces a great many challenges but by working together we can collectively make the WTO stronger, more agile, and better adapted to the realities of today”.
For years, China and US have been engaged in trade war, which has troubled the stability of the organisation, a development the new DG promised to address as a matter of urgency.
The 164 members of the WTO, during a virtual meeting yesterday, unanimously selected the 66-year-old Development Economist to serve a four-year term as director-general.
She will take up her duties on March 1, 2021 and her term, renewable, will expire on August 31, 2025.
In October, her WTO candidacy was supported by all geographic regions at the trade body apart from the United States where the then-Trump administration said it would continue backing the Korean candidate.
Okonjo-Iweala’s appointment was however cleared when President Joe Biden announced his support for the former Nigerian Finance Minister a few days ago.
Her appointment is coming at a time the global economy and world trade are in comatose as a result of the threatening COVID-19 pandemic, hence will need to hit the ground running immediately.
The US delegation to the WTO said, it is “committed to working closely with Okonjo-Iweala and she can count on the United States to be a constructive partner.”
A statement released in Geneva to this effect noted: “Dr. Okonjo-Iweala has promised that under her leadership it will not be business as usual for the WTO, and we are excited and confident that she has the skills necessary to make good on this promise.”
China’s delegation to the WTO, in a statement, he said, “The WTO is at its critical moment and must be able to deliver soon.
“The collective decision made by the entire membership demonstrates a vote of trust not only in Dr Ngozi herself, but also in our vision, our expectation and the multilateral trading system that we all believe and preserve.”
Market observers expect the new DG to address a multilateral accord to curb harmful fishing subsidies as well as navigations to govern the $26 trillion global e-commerce marketplace, which could reduce cross-border hurdles for US technology companies
The WTO is at a crossroads after many countries seem to have taken a step back from long-standing norms governing international trade.
In addition, its appellate body has been paralysed for months after the US under the Trump administration prevented the appointment of new judges, therefore rendering it unable to rule on any trade disputes.
She held a previous role as chair of the Global Alliance for Vaccines and Immunisation after a public sector career in international finance, including two terms as Nigeria’s finance minister and some 25 years at the World Bank. Her dual U.S. citizenship means she’s also the first American to hold the organisation’s top job.
She has also been involved in the fight against the coronavirus pandemic, being the African Union’s special envoy on the matter.
Okonjo-Iweala has been a board member of Gavi, the Vaccine Alliance — a public-private health partnership immunising people in poorer countries.
Meanwhile there were deluge of congratulatory messages from prominent Nigerians for the new WTO DG yesterday.
In his congratulatory message, Senate President Ahmad Lawan, congratulated Okonjo-Iweala on her emergence as the first African and first female DG of the World Trade Organisation (WTO).
Lawan also congratulated Nigeria on what it described as the latest feat of its great daughter on the international stage.
He applauded the quiet but dogged diplomacy of Nigeria and the unwavering commitment of President Muhammadu Buhari which he said contributed to the acknowledgement of the sterling credentials of Dr
Okonjo-Iweala and her ultimate triumph in the prolonged contest for the very important position.
In his own message, Speaker of the House of Representatives, Hon Femi Gbajabiamila, said Okonjo-Iweala’s unanimous confirmation by the General Council of the WTO to head the body is a testament to her years of experience in the financial sector both at home and abroad.
In a statement signed by his special adviser on Media and Publicity, Lanre Lasisi, the Speaker noted that the former two-time Nigeria’s Finance minister comes to office with a wealth of experience that spans several decades, adding that her track record speaks volumes.
Gbajabiamila, said her confirmation has once again proved that Nigeria has experts that can compete favourably both at home and abroad.
On his part, Governor Dapo Abiodun of Ogun State said Okonjo-Iweala’s victory as the first African woman to win the global international organisation position was a result of hard work, resilience and dedication to duty.
In a statement issued in Abeokuta by his chief press secretary, Kunle Somorin, Governor Abiodun charged the new WTO helmswoman to see her emergence and success as not only personal or Nigeria’s but that of the African region as a whole.
Similarly, former vice president Atiku Abubakar congratulated Okonjo-Iweala, saying, “It is not hyperbole when I say that no one could be more qualified for the job of director-general of the World Trade Organisation than her, and I congratulate her for her success at being the first female and African DG of the WTO.